Lightning
Nigerian innovator launches first active Bitcoin Lightning node in the country
The Lightning Network has struck the earth in one of the most challenging operating environments. Lagos, the capital of Nigeria — Africa’s most populous country — welcomed a new Bitcoin Lightning Network (LN) node this week, a vital step to better connect the continent to the layer-2 payments network that sits atop Bitcoin. The node runs on an old laptop powered by a diesel generator, as Lagos regularly experiences energy and electricity blackouts. Megasley’s diesel generator and laptop running the node. Source: Megasley In a discussion with Cointelegraph, Megasley, who operates the first Nigerian Lightning node of 2023 and the first active Lightning node in the country (other nodes are dormant), shared his vision for bringing instant, low-cost payments to Africa thanks to the LN. ”L...
Not medical advice: Bitcoiner implants Lightning chip to make BTC payments by hand
The Lightning Network continues to shock the Bitcoin (BTC) community. A swiss IT Professional called F418 (not his real name) surgically implanted a Lightning-enabled chip into his right hand to make Lightning Network (LN) payments. An X-Ray image of the chip implanted into F418’s hand. Source: Youtube Speaking with Cointelegraph, F418 said he experimented with body modification and LN payments for fun. He does not recommend that Bitcoin enthusiasts take the layer-2 payments network, the LN, into their own hands as he did. “The use is just to show that it is possible and you can do stuff like that.” He added that most people carry cards, it’s just his hand has the wow factor: “It’s funny if you are doing a presentation as I sometimes do presentations about payments and talk to ...
Bitcoin Lightning Network capacity strikes 5,000 BTC
Bear markets are for building out capacity on the layer-2 Lightning Network. Despite macroeconomic headwinds and sluggish price action, the Lightning Network, the layer-2 payments solution fo Bitcoin (BTC), continues to flourish. The Bitcoin Lightning Network reached a milestone capacity of 5,000 BTC ($96 million). In effect, more and more Bitcoin is being introduced to Lightning Network payment channels worldwide, as Bitcoiners continue to support the growth of the network. Bitcoin Lightning Network capacity. Source: Look into Bitcoin The Lightning Network allows users to send Bitcoin (or satoshis, the smallest amount of a Bitcoin) to send or receive money faster and with lower fees. The more capacity on the network, the more liquidity is on hand. As a result, users can experience faster ...
Bitcoin Pizza Day rewind: A homage to weird and wonderful BTC purchases
Happy Bitcoin Pizza Day! Before you dial for a Margherita to commemorate the world’s first real-world Bitcoin transaction, here’s a slice of trivia: What do a family holiday to Japan, a 50 Cent album, a steak dinner, and a framed cat photo all have in common? They were all paid for with Bitcoin (BTC) by members of the Cointelegraph Bitcoin community! And just like the Bitcoin pizzas that cost 10,000 BTC, which are now worth more than $300 million, the community’s Bitcoin purchases have also skyrocketed. Benjamin de Waal, the VP of Engineering at Bitcoin exchange Swan Bitcoin told Cointelegraph, “I spent 7 BTC on a family trip to Japan a few years back.” In today’s value, 7 BTC is worth well over $200,000 — but Ben’s happy because his kids are happy: “It would have be...
“DeFi is not decentralized at all,” says former Blockstream executive
Samson Mow, former chief strategy officer at Blokstream and founder of JAN3, is convinced that most decentralized finance protocols can’t compete with Bitcoin when it comes to providing an effective monetary network because of their lack of decentralization. As Mow pointed out, DeFi projects are governed by entities that can modify the protocol at will. “At the fundamental level, money should be immutable,” explained Mow. “If you can change it at will, then you’re no better than a fiat currency governed by the Fed.” Bitcoin’s decentralization makes it very difficult to modify its protocol, which is why Mow considers it a unique candidate for becoming a truly global monetary system. Mow pointed out that despite the immutability of Bitcoin’s base layer, developers can still build appli...
Bitcoin transaction fees hit decade lows, here’s why
It’s a great time to move Bitcoin (BTC) between wallets and exchanges. Bitcoin transaction fees have hit all-time lows in BTC, according to research by Galaxy Digital. #bitcoin fees are at all-time lows. the craziest thing? fall 2021 was the first bull run not accompanied by a major spike in fees. how is that possible? what does it mean? here’s a thread explaining the most confounding (and awesome) chart in bitcoin. (remember june 2021) pic.twitter.com/gnWssTckX2 — Alex Thorn (@intangiblecoins) April 5, 2022 As shown on the graph below, the Bitcoin mean transaction fee has plummeted to 0.00004541 Bitcoin ($2.06) in 2022, while the median is 0.00001292 Bitcoin ($0.59) which is the lowest of any year except 2011, according to the report. Graph to show the fees trending down ...
Bitcoin rally hopes diminish as pro traders flip bearish, retail interest at 12-month lows
Bitcoin (BTC) has been trapped in a symmetrical triangle for 56 days and the trend change could last until early May, according to price technicals. Currently, the support level stands at $38,000, while the triangle resistance for daily close stands at $43,600. Bitcoin mining up, retail interest down Bitcoin/USD price at FTX. Source: TradingView The week started with a positive achievement for the Bitcoin network as the Lightning Network capacity reached a record-high 3,500 BTC. This solution allows extremely cheap and instant transactions on a secondary layer, known as off-chain processing. After cryptocurrency mining activities were banned in China in 2021, publicly-listed companies in the United States and Canada attracted most of this processing power. As a result, Bitcoin’s hash...
Bitcoin Lightning Network goes live on Cash App
Mobile payment service Cash App revealed that Lightning Network can now be used to transfer Bitcoin (BTC) through its app. With the new feature, its users can send their BTC to any Lightning or on-chain BTC address. Lightning Network is now available on Cash App. It’s the fastest, free way to pay anyone in bitcoin. Buy tacos, tip your favorite Twitter comedian, or send a friend money abroad—anywhere that accepts lightning. pic.twitter.com/65TXSJ6yL6 — Cash App (@CashApp) February 7, 2022 A few weeks ago, the company announced through a notification within the app that it has integrated the Lightning Network. Now, its users can finally use the feature and utilize the benefits that the Bitcoin Lightning Network brings into everyday BTC transactions. To use Lightning Network on Cash App...
21 runners dead as extreme weather hits China ultramarathon
Twenty-one people were killed after hail, freezing rain and high winds hit runners taking part in a 100-kilometre (62-mile) cross-country mountain race in China, state media said Sunday. The extreme weather struck a high-altitude section of the race held in the scenic Yellow River Stone Forest near Baiyin city in northwestern Gansu province Saturday afternoon. Among the dead were elite Chinese long-distance runners, local media reported. Official news agency Xinhua confirmed the death toll had risen to 21, citing the local rescue command headquarters. State broadcaster CCTV also reported the final missing competitor had been found dead. Baiyin city mayor Zhang Xuchen said that at around midday Saturday a section of the rugged ultramarathon course — between kilometres 20 and 31 — was “sudde...
lightning kills eight-year-old boy in Bayelsa
An eight-year-old boy has been reportedly killed by lightning in the oil-rich Imiringi community in Ogbia local government area, Bayelsa State. The victim, identified as Stephen Akanam, a native of the nearby Kolo community, according to sources, was residing with his aunty at Imiringi. He was reportedly struck by lightning Wednesday evening during rainfall while playing football with his mates in an open field behind a popular bar in the area. A source who spoke anonymously said such an incident had never happened before in the community. The deceased, according to a source, was indoors all through the afternoon until the evening when he went out to play. ”A woman rushed to the house to tell us that our brother is dead. I could not believe it and rushed to the scene. “Upon sighting him on...
